Remodelling a commercial space can have a huge impact on your business’s profit margin as well as your reputation. Upgrading your space the right way will improve everyone’s situation; owners, employees and customers alike. But, what is the right way? That’s what we’re here to find out!
Prioritize Your Goals
What do you want out of your commercial renovation? You need to determine whether bringing new customers, rebranding your company, increasing efficiency or improving employee morale is your top priority with this renovation. Once you’ve narrowed that down, you can move forward in executing your plans without fear of going overboard or getting distracted.
Make a Schedule and Budget
Being adequately prepared for the renovation of a commercial space is essential for success, especially if you have a tight budget to stick to. Before contacting potential construction companies, create a detailed schedule that won’t cost too much in terms of lost revenue. As well, have a realistic budget that can accomplish everything you need, putting about 10% aside for emergencies.
Compare Local Contactor Prices
Once your goals are in place, you can move onto finding the right general contractors to get the job done. Don’t focus on a single company without looking at the pricing and skill of other local contractors. Browse through customer reviews, work portfolios and even interview the ones you think will be the best fit for your commercial renovation.
Think of the Future
Your commercial space has to meet the needs of your company today as well as several years into the future. Consider your five or ten-year business plan and mould your renovations accordingly.
Stay Open or Close During the Renovations?
The decision of whether or not to stay open and operational during a renovation depends on several factors. Some of which include the financial state of your business, the level of disturbance it may cause customers, and the length of the renovation itself.
Know Your Target Audience
This factor alone can make or break your business depending on your location and the group of individuals you’re targeting. Turning your old-time diner into a hip nightclub when the surrounding area is packed with an older demographic will quickly drop your revenue potential. Always keep your employees and customers in mind when making commercial renovation decisions.
Don’t Fear Change
While it’s important to have a budget and a schedule set in place during your renovation, it’s also important to be open to the changes and unplanned scenarios that might also occur. It’s common for things not to go as planned during a renovation project, especially when you’re dealing with building permits and site inspections.
At Impact Demolition and Contracting, we staff a slew of general contractors you can trust for your commercial renovation. Located in Edmonton, Alberta, we’re a team of commercial builders that have specialized in medical facility and restaurant renovations since 2007. For more information, be sure to call us or visit our website today!